Need help with obsolete rarity and value

DepressionscripGuy · February 2, 2016 9:16AM

These are part of a friends collection... I really couldn't find much info on these. Any help on value / rarity would be appreciated.

DepressionscripGuy · February 3, 2016 1:36AM

I finally found a Peoples Exchange note that sold in 2008 for $230. But nothing else....

I can also find a 1 cent, 3 cent and 5 cent Croton River Bank issued notes in rough shape for $250 ea. But no 25 cent notes.

I found a 10 cent and 25 cent pair or Cohen and Co. notes on HA that sold for $360. They list them as very rare, but I can't find a remainder as a 50 cent note.

So am I in the ballpark on current value or are these more rare or higher value since they seem to be in such good shape?

gsalex · February 3, 2016 1:57AM

First off, these are proof notes, as indicated by the small punches through the signature areas and the fact that they are not issued. These were printed for review by the customer or for the archives of the printer. I don't know enough about valuing proofs to say, but other forum members like Berny may be more helpful.

MAM0912 · February 3, 2016 2:01AM

I was able to find S Cohen scrip notes for sale on Denly's web site for the lower values, .05, .1 & .25 but not the 50 cent. He had a VG for $75 and higher graded notes Ch CU were listed around $225. They're listed towards the bottom of the Mass listing, under S and not C.

Berny · February 3, 2016 6:01AM

Many proofs (but not all) have PC's; however, just because a note has PC's does not make them proofs.

So let me start with the Croton River notes from Brewster (was South East). These notes are listed in the 2001 book by Harris on NY scrip. He only lists issued notes; that is, no proofs or remainders. The 639 serial number on the 5 cent note indicates that this is most probably a remainder and not a proof. Given the same shade of paper, this probably makes the 25 center also a remainder.

Heritage sold an issued F/VF 1 cent note in 2010 for $89. Russell (Sellitstore) has several low denomination fine issued notes listed for about $200 each.

Harris lists most of the issued notes at R5 (11-25 known).

Stack's sold a VF 50 cent remainder in 2009 for $230.

Remainders will sell at a much lower price than issued notes, even when the issued notes have a much lower grade. Thus I would think that these two remainders would sell around $100 at auction. Given the Stack's results, you could be lucky and obtain more. All depends on who is vying for these notes.

Given the results from Heritage and Denly's, I would say that the Cohen note (most probably also a remainder) would bring $100+ at auction.

Hopefully Russell will chime in. He is much more familiar with scrip in general than I am.

Berny · February 3, 2016 6:31AM

This exact same 25 cent Mt Vernon note was sold to Russell last month by sorenls for $85. That is the best determination of value for this note. Russell might have needed this note for his NY collection or he might try to sell it for a profit.

DepressionscripGuy · February 3, 2016 10:07AM

Thanks everyone for the help. I appreciate it. Lots of good info especially from Berny as always. Amazing what you know about obsoletes.

sellitstore · February 5, 2016 2:12AM

Hi Rod,

Sorry that I didn't see this thread sooner but it looks like you have the information that you wanted.

I would add that the most valuable and desirable is probably the Cohen 50 Cents with the Lincoln portrait by Prang. It's a middle rarity note (maybe R4-R5) but Lincoln is very popular and this note is probably worth $150-$300.

The Croton River Bank notes are scarce and were issued by several different merchants with Roberts and Bro. probably being the most available. Remainders, like these, are probably a bit more available than signed and issued notes. Unissued, these should be worth $50-$100 each.

The Mt. Vernon note that I bought is a duplicate for resale. I think that the $85 that I paid is a very fair price and probably paid about $250 for the one in my collection, years ago. They are probably R5-R6 notes with two denominations and two different colors for each. I would probably price the one that I bought at $175-$195 but be prepared to own it indefinitely because the were no higher bidders on Ebay at $85, so I'm aware that I just may love these notes more than anyone else currently.

-Russell

DepressionscripGuy · February 5, 2016 3:41AM

Thanks Russell. Appreciate the additional info / opinion.

oklahomadanny · February 5, 2016 8:37AM

I viewed Sorenles past auctions, very interesting group of notes he's sold. He had one piece (Stonewall Brigade scrip March 9th, 1863) go at a $1125 BIN. Would be interesting to know Russell's opinion on some of the values vs. sell prices on notes he's familiar with. Someone probably got some nice bargains. The eBay categories he listed them in were all over the place!

Noticed a pair of those "Depression scrip Fox Meadow School, Scarsdale, NY" {auction link} that DepressionscripGuy asked about a couple months ago about restoration. He sold the black one unit at $78.77 and the blue one unit, brown five units pair for $172.50.

QUESTION: Does anyone know how to make an eBay link show up after the 90 days? In some of my old posts the link to the auction still work, even if it's years old.

DepressionscripGuy · February 5, 2016 7:28PM

Originally posted by: oklahomadanny

I viewed Sorenles past auctions, very interesting group of notes he's sold. He had one piece (Stonewall Brigade scrip March 9th, 1863) go at a $1125 BIN. Would be interesting to know Russell's opinion on some of the values vs. sell prices on notes he's familiar with. Someone probably got some nice bargains. The eBay categories he listed them in were all over the place!

Noticed a pair of those "Depression scrip Fox Meadow School, Scarsdale, NY" {auction link} that DepressionscripGuy asked about a couple months ago about restoration. He sold the black one unit at $78.77 and the blue one unit, brown five units pair for $172.50.

QUESTION: Does anyone know how to make an eBay link show up after the 90 days? In some of my old posts the link to the auction still work, even if it's years old.

I think some of the info is still in their database after 90 days, but most of the time they purge it after 90 days. I've run into that as well but it was hit or miss for me.

Need help with obsolete rarity and value

Comments